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Disinformation report hotline: 010-85061466
Federal Chancellor of Germany Olaf Scholz visits Yuzhong District in southwest China's Chongqing Municipality, April 14, 2024. /Xinhua
Europe and Germany can show a "better path" by treating every challenge as an opportunity and offering a more beneficial approach than the naked protectionism promoted by the United States, according to a Bloomberg opinion piece on Monday.
German Chancellor Olaf Scholz's recent visit to China comes within days of a trip by U.S. Treasury Secretary Janet Yellen, who warned that Chinese-made electric vehicles and clean technologies were causing worldwide "negative spillovers."
However, the report indicated that automobiles remain Germany's biggest export and one area where the European Union still enjoys a surplus with China. Major European automakers like Volkswagen, BMW and Mercedes-Benz Group sell about a third of their cars in China, according to the report.
"Free trade needs to be our North Star, our guiding principle," Bloomberg quoted BMW Chairman Oliver Zipse as saying.
The European auto industry "is not massively damaged by the import of Chinese automobiles, nor is it in the interest of the EU to further impose customs on these products," Zipse said, emphasizing that the export of Chinese vehicles not only poses no harm to Europe and the world but aligns with their principles.
"Capitalists shouldn't retreat into their shells at the first sign of competition," read the opinion piece. "Instead, they should treat every danger as an opportunity to up their game."
"It's ironic that the U.S., which pretty much invented the spirit of ebullient boosterism, is now the nation retreating from it most rapidly," it said.